NATIONAL BANK OF THE REPUBLIC OF BELARUS

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07/07/2017

PRESS RELEASE

On July 1, gold and foreign exchange reserves of the Republic of Belarus exceeded USD6.5 billion

As of July 1, 2017, the volume of gold and foreign exchange reserves of the Republic of Belarus on the IMF’s SDDS definition amounted to USD6.561 billion (in the equivalent).

In June 2017, gold and foreign exchange reserves increased by USD1.322 billion (by 25.2%) following the growth in May 2017 by USD0.13 billion (by 2.5%). According to the results of 2017 H1, the increase in reserves amounted to USD1.634 billion (33.1%).

The proceeds from the sale of eurobonds of the Ministry of Finance worth USD1.4 billion, as well the receipt of the fourth tranche of the financial credit of Eurasian Stabilization and Development Fund in the amount of USD300 million were the main factors of a significant growth in the level of gold and foreign exchange reserves in the previous month.

At that, the Government and the National Bank in June 2017 fulfilled external and internal foreign exchange obligations in the foreign exchange worth about USD343 million. A decreasing price for gold in the international precious metals market had a restraining influence on the dynamics of gold and foreign exchange reserves.

Over 2016, gold and foreign exchange reserves of the Republic of Belarus on the IMF’s SDDS definition grew by USD0.751 billion (by 18%) amounting as of January 1, 2017 to USD4.927 billion (in the equivalent). Monetary Policy Guidelines for 2017 stipulate the growth of gold and foreign exchange reserves on the IMF’s SDDS definition by no less than USD0.5 billion.




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